Will I gain a Tax Rebate?
I'm 21, I don't live at home, but my parents still claim me on their taxes becase they pay for my college. So, since they claim me, does this mean I'm not eligible for the rates rebate?Answers: If your parents claim you as a dependent, you will be ineligible for the rebate, but you may still benefit under the plan.
While the rebate depends on your 2007 status and income, it is truly a rebate toward your 2008 taxes. According to the proposed plan, in 2008, taxes would be cut from 10 percent to not anything percent on the first $6,000 dollars of taxable income for individual taxpayers.
So if you have taxable income within 2008, you will see a tax cut when you report in 2009.
You are not eligible for the rebate.
Does Turbo Tax File the homestead claim if you hold them do your taxes?
I have completed file Fed and State with Turbo Tax and when I printed rotten copies, I found the Homestead Claim and want to know if there is anything I stipulation to do? Do I have to net copies and mail those myself or what? I can't achieve a live person or even a reply when I asked them.Answers: Homestead exemptions are file by YOU with your COUNTY due commissioner. It only affects the property levy you pay on your physical estate. Some states (Fla, for example) requires you to file respectively year. Some only require you to report once when you purchase the property.
Turbo Tax has nought to do with homestead claims.
Contact your export tax commissioner. If you miss the deadline to file, you may not attain the exemption for 2008!
Because I owe taxes, will I carry a repate check?
I am already on a payment plan, but I wonder am I going to bring anything if I owe or not in 2007?Answers: The rebate will be applied to your debt.
To the posters who question this, I know how payment plans work. All rebate checks WILL BE OFFSET. This includes vertebrae taxes, child support and student loans. This was surrounded by the bill as well as the installment agreement paperwork.
Yes, you will return with the benefit of having your debt reduced.